Romania. I'm registered as a "persoana fizica autorizata" (PFA), which has 2 types of taxation systems:
- real (which means you're taxed ~40% based on how much you earn).
- norma de venit, where you'll need to pay taxes for a fixed amount of money, even if you make less. This system is only for persons making below 100k eur/year, after that you'll be moved to the "real" taxation.
In op case, he exceeds the 100k limit and he'll need to register a company instead where there's a 3% revenue tax plus a 5% income tax.
In op case, he exceeds the 100k limit and he'll need to register a company instead where there's a 3% revenue tax plus a 5% income tax.